RLI Corp. reported operating earnings of $27.5 million in the second quarter, compared to $25.2 million the same period last year.RLI’s gross premiums written increased 11% during the quarter, while net premiums written were up 15%. The company reported underwriting income of $25.6 million, resulting in a combined ratio of 83.4%.Underwriting income increased $24.6 million, driven by favorable development in prior years' loss reserves.Jonathan Michael, chairman and chief executive officer of RLI, said premium product continues to benefit from improved market conditions and new product...
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